Fast-fashion giant Shein Group (Unlisted (UK):SHEI) is expected to begin trading on the Hong Kong Stock Exchange on September 1, as the retailer seeks to raise as much as US$1.77 billion in its long-awaited initial public offering.
The China-founded company is offering 280 million Class B shares at between HK$47.60 (approximately A$8.48) and HK$49.50 each, with net proceeds expected to reach around HK$13.12 billion at the midpoint of the price range.
The listing would mark the culmination of a lengthy effort by one of the world’s largest fast-fashion retailers to access public markets after previously considering both the US and London.
Shein’s IPO plans have faced delays amid regulatory scrutiny and geopolitical tensions between China and Western markets, eventually prompting the company to pursue a Hong Kong listing.
Investment in technology and global growth
Proceeds from the offering would be directed towards strengthening Shein's technology infrastructure, including further investment in artificial intelligence and data analytics.
Funds will also be used to increase brand awareness and strengthen the company’s global presence.
The IPO is expected to be priced on August 31, ahead of the planned September 1 market debut.
